I get to hear this a lot (Especially during market crashes-AKA Corrections), Why do you talk so much about bitcoins (been talking and investing since 2012), Simple reason — Government and central banking suck, they are the largest cartel in the world. To know more about it read The Creature from Jekyll Island -:
Central banking was coalition of the largest private banks in the world, who wanted to safeguard their interests on public expense (aka- Taxpayers)
How does banking work?
Central banking allows banks to create check-book money out of nothing, Banks make money by lending it to others and earning interest on the principal, the money you deposit is borrowed to others on interest and only 10% (Might vary but always low) of your money is insured against bad debt?! It’s like giving your car to a valet for parking and they rent your car out without any accountability.
So the banks keeps on giving your money as a loan in return for interests, that loan is placed under the asset side of their balance sheet (WOW)
What happens when they are not able to recover money — AKA bad debts?
Well, happens all the time. If they are not able to recover any assets, they borrow them more money, in return giving them more time to make payments and interest rate goes higher, their assets keep on increasing on books. They do this for big loans not small loans, I am talking about millions given to corporates, and nations not to a small business men. Banks are happy to receive interest amount over repayment of loans..
When they are not able to recover the principle amount even after lending more, they are bailed out, that’s the GAME- BAILOUT.
Their losses are written off by central banks using tax payers money (YOUR MONEY), and second by printing more money — Increasing the invisible tax- aka: Inflation.
So the point being, banking is a cartel, run by greedy corporates which run the entire show. They are responsible for wars, market crashes and inflation. If everyone in the world knows their intention, there will a revolution next day, but our education system takes care of that.
Bitcoin start of decentralised revolution
Bitcoin is simple and what makes it awesome is that it’s not controlled by anyone. It’s decentralised , finite (only 21 million ever in existence). It’s pretty much like gold as only a small percentage of bitcoins are mined every-year like GOLD.
You cannot be tracked and are free to use your money in any way you like- so real freedom. Unlike recently in India where the government banned use of 500 and 1000 Rs notes and kept a close eye on every bank transaction- So much for freedom.
Saving your self from inflation and war on your cash
I’d recommend investing in bitcoins, precious metals and other assets that we discuss. The trick is to diversify your investments and save yourself from apocalypse.
You can reach out to me or Christopher Shen anytime using these links:
https://mssg.me/akanshu
https://mssg.me/shenchris